Statutory Text

49 U.S.C. § 44304 — Reinsurance

U.S.C. Title 49 - TRANSPORTATION 49 U.S.C. United States Code, 2023 Edition Title 49 - TRANSPORTATION SUBTITLE VII - AVIATION PROGRAMS PART A - AIR COMMERCE AND SAFETY subpart iii - safety CHAPTER 443 - INSURANCE Sec. 44304 - Reinsurance From the U.S. Government Publishing Office, www.gpo.gov

§44304. Reinsurance

To the extent the Secretary of Transportation is authorized to provide insurance under this chapter, the Secretary may reinsure any part of the insurance provided by an insurance carrier. The Secretary may reinsure with, transfer to, or transfer back to, any insurance carrier any insurance or reinsurance provided by the Secretary under this chapter.

(Pub. L. 103–272, §1(e), July 5, 1994, 108 Stat. 1169; Pub. L. 107–42, title II, §201(c), Sept. 22, 2001, 115 Stat. 235; Pub. L. 112–95, title VII, §703, Feb. 14, 2012, 126 Stat. 118.)

Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large)

44304(a) 49 App.:1535(a). Aug. 23, 1958, Pub. L. 85–726, §1305, 72 Stat. 802; Nov. 9, 1977, Pub. L. 95–163, §4(a), 91 Stat. 1279.

44304(b) 49 App.:1535(b).

In subsection (a), the words "may reinsure any part of the insurance provided by an insurance carrier" are substituted for "may reinsure, in whole or in part, any company authorized to do an insurance business" for clarity and consistency with source provisions restated in this subchapter and the definition of "insurance carrier" in section 44301 of the revised title. The words "transfer to, or transfer back to" are substituted for "cede or retrocede to" for clarity. In subsection (b), the word "same" is omitted as being included in "similar". The words "on account of the cost of" are omitted as surplus. The word "providing" is substituted for "rendered" and "furnished" because it is inclusive. The words "except for" are substituted for "but such allowance to the carrier shall not provide for" to eliminate unnecessary words.

Editorial Notes

Amendments 2012—Pub. L. 112–95 substituted "any insurance carrier" for "the carrier". 2001—Pub. L. 107–42 struck out subsec. (a) designation and heading "General Authority" and struck out subsec. (b) which read as follows: "(b) Premium Levels.—The Secretary may provide reinsurance at premiums not less than, or obtain reinsurance at premiums not higher than, the premiums the Secretary establishes on similar risks or the premiums the insurance carrier charges for the insurance to be reinsured by the Secretary, whichever is most advantageous to the Secretary. However, the Secretary may make allowances to the insurance carrier for expenses incurred in providing services and facilities that the Secretary considers good business practice, except for payments by the carrier for the stimulation or solicitation of insurance business."

Source: uscode.house.gov — public domain Official Source ↗

Root-LD Entity Data

◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org

Federation ID

BS-USC49-SEC-907EE4

Entity Class

STATUTE / FEDERAL-CODE-SECTION

Domain Signature

boisestandard.org

Citation

49 U.S.C. § 44304

Jurisdiction

Federal — United States

Status

✓ ACTIVE

Source

PRIMARY-SOURCE

Source Verified

✓ TRUE

Content Hash

a4e87962f6fcb858...

Semantic Edges

Pending — corpus passes queued

The statutory text of 49 U.S.C. § 44304 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).

Navigate Corpus — Title 49

← 49 U.S.C. § 44303 49 U.S.C. § 44305 →

Ch. 443 — INSURANCE

49 U.S.C. § 44301 49 U.S.C. § 44302 49 U.S.C. § 44302a 49 U.S.C. § 44303 49 U.S.C. § 44304 49 U.S.C. § 44305 49 U.S.C. § 44306 49 U.S.C. § 44307 49 U.S.C. § 44308 49 U.S.C. § 44309 49 U.S.C. § 44310

49 U.S.C. — public domain ← All Legislation